The American Investment Council (AIC) announced it submitted a letter to the Senate Committee on Health, Education, Labor and Pensions (HELP). The letter, ahead of the hearing on Steward Health Care, emphasized private equity's vital yet limited role in the health care system.

According to a press release by AIC, private equity investments have contributed to advancements in research for serious diseases such as Alzheimer’s and Parkinson’s, enhanced and updated health facilities in rural areas, modernized medical records and healthcare data systems, and funded other essential initiatives.

"America’s health care system faces many challenges – but private equity is not the cause," wrote AIC President and CEO Drew Maloney. "Although private equity is not large enough to influence any sector, its investment dollars are critical to American innovation and growth – especially for small businesses on main streets across the country. American companies, in health care and other economic sectors, need more investment from all sources."

The letter discussed how private equity aids rural patients in accessing essential medical care, finances affordable and life-saving treatments, funds innovative medical devices that enhance patients' quality of life, provides doctors and nurses with necessary resources for patient care, and empowers workers while promoting well-paying jobs.

"Private equity and private credit can provide the needed capital. We welcome the opportunity to work with the committee and discuss productive ways to ensure that health care companies, patients and workers can benefit from productive private equity investments nationwide," wrote Maloney.

The AIC is an organization focused on advocating for the private investment sector and highlighting its role in supporting the U.S. economy and the retirement security of workers. Its members include prominent private equity and growth capital firms that collaborate with limited partners and businesses.